Blog

Pass journal entries in the following cases: (a) Rohit Ltd. issued Rs. 40,000; 12% Debentures at a premium of 5% redeemable at par. (b) Virat Ltd. issued Rs. 40,000; 12% Debentures at a discount of 10% redeemable at par. (c) Rahul Ltd. issued Rs.40,000; 12% Debentures at par redeemable at 10% premium. (d) Prithvi Ltd. issued Rs. 40,000; 12% Debentures at a discount of 5% and redeemable at 5% premium. (e) Shikhar Ltd. issued Rs. 40,000; 12% Debentures at a premium of 10% redeemable at 110%.